Americans have been receiving Social Security benefits for over 80 years. But the majority of Millennials (those born between 1982 and 2000) are uncertain if they will receive benefits when they retire. Why? The Social Security Administration currently projects the program to be insolvent by the year 2034. That’s only a few years before the[…]
For many, retirement seems like a faint light at the end of the tunnel. For recent college graduates in their early 20’s, it might seem like that light will never get any brighter. Fast forward several decades and that light is nearly blinding. The underlying question is if those reaching the end of the tunnel[…]
The Power of the Health Savings Account Traditionally, medical insurance is purchased via our employers and premiums are deducted from our paychecks in exchange for medical coverage. Health Savings Accounts (FSAs) are challenging this traditional paradigm by allowing the employee to channel the vast majority of these premiums into an FSA bank account. In exchange[…]
If you were to compare the two most recent generations against each other, you would find that the number of obvious differences is endless. Everything from core values and religion, to how we deal with matters of equality differ between Generations X and Y. Generation X, or the approximate generation of our parents, was a[…]
We all have to call it a day sooner or later, but for you –hopefully later. We don’t think about retirement that much, except when we talk to people who have been retired for quite some time and are asking them about how well it’s been going so far. Regardless of how old you are,[…]
One of the most important things you need to do when it comes to your financial health is to create a good budget. Having a budget, and sticking to it, can lead to greater financial stability, regardless of your socioeconomic status. Having a budget means setting limits, being disciplined and being responsible. When you have[…]
Retirement shouldn’t be an un-reachable dream for Americans. But it’s true that the sooner you start, the better. By the time you’re in your 40s, there are some steps you should make toward your retirement. But don’t fret – you can begin your retirement planning today, and you do not have to start earning a[…]
Things are not always as they appear. In the often-confusing world of finance, this means a lot of well-meaning advice is followed because it seems logical enough. A lot of these pieces of wisdom, however, deserve a second look. 1. “Don’t use credit cards – you’ll be paying off that interest long after you’re[…]
It’s a fact that some people choose to ignore retirement due to the connotations that come with it: old age, sickness, disabilities, inability to earn a living. But let’s face it – everybody grows old and eventually, retires. How would you like to see yourself by then? Do you want to maintain the quality of[…]